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IMF expresses confidence in Christine Lagarde as French court orders trial

The International Monetary Fund expressed firm backing for Managing Director Christine Lagarde Friday after a French court ordered her to stand trial over a state payout to a businessman in 2008.


IMF expresses confidence in Christine Lagarde as French court orders trial

Columbia: The International Monetary Fund expressed firm backing for Managing Director Christine Lagarde Friday after a French court ordered her to stand trial over a state payout to a businessman in 2008.

"The executive board has been briefed on recent developments related to this matter, and continues to express its confidence in the Managing Director`s ability to effectively carry out her duties," said IMF spokesman Gerry Rice.

Lagarde, who just began her second five-year term leading the global crisis lender, was ordered to be tried for her role in making a 404 million euro ($445 million) payout to businessman Bernard Tapie when she was finance minister to settle his dispute with a state-owned bank.

France`s highest appeals court dismissed Lagarde`s challenge against the decision to try her for negligence in her handling of a dispute.

The case was well known to the Fund`s executive directors during her first term leading the Washington-based institution, and they have consistently expressed support for and confidence in her.

Rice said in an emailed statement that it would "would not be appropriate" for the IMF to comment on the case itself.

From Zee News

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